EdF already has the approval of the government and Invesco, British Energy’s largest shareholders. with a combined stake of more than 45pc. The government is set to make £4.5bn from selling its 35.6pc holding.

The French power company is offering investors 774p a share in cash or 700p in cash plus a ``contingent value right’’ of one so-called nuclear power note for each share they hold.

The nuclear power note will be linked to the British Energy’s output and wholesale power prices, giving holders the opportunity to profit from future growth. The government has accepted the cash offer.

EdF has signed a ``memorandum of understanding’’ with Centrica over the sale of a 25pc stake in British Energy.

That would enable the owner of British Gas to participate in the building of new nuclear power stations on a 75:25 basis with EdF. The French company said its offer is not conditional on reaching a deal with Centrica.

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British Energy owns and operates eight nuclear power stations, including Dungeness, Sizewell and Torness.

Invesco, which rejected EdF’s first advances because of its belief in the future of nuclear energy, has been persuaded to approve the deal by the terms of the new CVR.

M&G, the investment arm of Prudential and a 5pc shareholder in British Energy, had not yet decided last night whether to give its support to the bid. The investment house has been pushing hard for a deal that includes Centrica.

The next step will be winning approval from Brussels. The deal will hasten the Government’s nuclear revolution as EdF wants to use some of British Energy’s sites to build a new generation of atomic power stations.